This work proposes a fully circuit-based method for modelling electrical transformers. This method not only offers the advantages of circuit-based methods and can be implemented in electromagnetic transient (EMT) type software, but it can also provide a detailed representation of transformers, comparable to the finite element method (FEM). The proposed method enables a detailed geometrical modelling, as well as representation of magnetic flux paths and consideration of iron core saturation. It can be implemented in EMT-type software to see the effect of power networks on transformers. In addition, the proposed method can represent internal faults in transformers. The problem is constrained to a 2-D domain, which is often used in FEMs to represent the magnetic behavior of power equipment. Finite element analysis based on ANSYS Maxwell is used to verify the proposed method.